Starbucks identifies 1st 50 stores to be closed

The 50 stores will shut their doors by the end of July, the company said.

According to a list posted Friday night on the company's web site, Starbucks will close eight stores in California and seven stores in Minnesota.

The gourmet coffee retailer said it will also close four stores in Alabama, two in Arkansas, two in Illinois, two in Indiana, two in Louisiana, five in Nevada, three in New York, two in Ohio and five in Texas.

The company will also close one store in each of Iowa, Kentucky, Louisiana, Maryland, Missouri, Nebraska, New Jersey, North Dakota and West Virginia.

The company announced earlier this month that it would close 600 company-owned stores in the U.S. starting in July and continuing through the first half of fiscal 2009, but did not offer any details on which locations would be shut down.

The move to close the stores is a retreat from the aggressive expansion plans that had previously been a company hallmark. But Starbucks has watched its traffic and its profits decline recently as the faltering economy has led some consumers to question their spending on pricey coffee.

Starbucks shares fell 25 cents to $13.81 in Monday morning trading.